NASDAQ : VYGR
Voyager Therapeutics, Inc. — Financial statements
Healthcare · Biotechnology · United States
Last price 1.76 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 108.45M
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Voyager Therapeutics, Inc. (VYGR) reported revenue of 34.46M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 34.46M | 40.37M | 80.00M | 250.01M | 40.91M | 37.41M |
| Cost of Revenue | 116.06M | 132.27M | 124.59M | 92.17M | 55.76M | 73.79M |
| Gross Profit | -81.60M | -91.90M | -44.59M | 157.84M | -14.86M | -36.37M |
| Selling, General & Admin | 32.09M | 36.44M | 35.92M | 35.82M | 30.98M | 37.25M |
| Operating Expenses | 32.09M | 36.44M | 35.92M | 35.82M | 30.98M | 37.25M |
| Operating Income | -113.69M | -128.34M | -80.51M | 122.01M | -45.84M | -73.62M |
| Interest Expense | -390.00K | |||||
| Interest & Investment Income | 7.94M | 10.62M | 18.33M | 11.72M | 1.79M | |
| Other Non Operating Income (Expenses) | 1.65M | 1.65M | 622.00K | 3.00K | 2.65M | |
| EBT Excluding Unusual Items | -104.10M | -116.08M | -61.56M | 133.74M | -41.39M | -74.01M |
| Merger & Restructuring Charges | -3.50M | -3.50M | ||||
| Gain (Loss) on Sale of Investments | 2.81M | |||||
| Asset Writedown | -2.78M | |||||
| Other Unusual Items | -5.00M | |||||
| Pretax Income | -107.60M | -119.58M | -64.34M | 133.74M | -46.39M | -71.20M |
| Income Tax Expense | 126.00K | 144.00K | 665.00K | 1.41M | 16.00K | |
| Net Income | -107.73M | -119.72M | -65.00M | 132.33M | -46.41M | -71.20M |
| Net Income to Common | -107.73M | -119.72M | -65.00M | 132.33M | -46.41M | -71.20M |
| Shares Outstanding (Basic) | 59.45M | 58.69M | 57.67M | 43.02M | 38.36M | 37.67M |
| Shares Outstanding (Diluted) | 59.45M | 58.69M | 57.67M | 44.57M | 38.36M | 37.67M |
| EPS (Basic) | -1.81 | -2.04 | -1.13 | 3.08 | -1.21 | -1.89 |
| EPS (Diluted) | -1.81 | -2.04 | -1.13 | 2.97 | -1.21 | -1.89 |
| Free Cash Flow | -121.42M | -135.06M | -18.83M | 74.66M | -15.00M | -55.13M |
| Free Cash Flow Per Share | -2.04 | -2.30 | -0.33 | 1.68 | -0.39 | -1.46 |
| Gross Margin | -236.81% | -227.62% | -55.74% | 63.13% | -36.32% | -97.21% |
| Operating Margin | -329.92% | -317.89% | -100.64% | 48.80% | -112.05% | -196.76% |
| Profit Margin | -312.63% | -296.53% | -81.25% | 52.93% | -113.45% | -190.29% |
| Free Cash Flow Margin | -352.36% | -334.53% | -23.54% | 29.86% | -36.67% | -147.36% |
| EBITDA | -109.87M | -124.28M | -75.78M | 126.45M | -39.65M | -68.45M |
| EBITDA Margin | -94.72% | 50.58% | -96.92% | -182.96% | ||
| D&A For EBITDA | 3.82M | 4.06M | 4.73M | 4.44M | 6.19M | 5.17M |
| EBIT | -113.69M | -128.34M | -80.51M | 122.01M | -45.84M | -73.62M |
| EBIT Margin | -100.64% | 48.80% | -112.05% | -196.76% | ||
| Effective Tax Rate | 1.05% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 35.77M | 65.30M | 71.37M | 68.80M | 98.96M | 117.43M |
| Short-Term Investments | 80.57M | 131.15M | 195.32M | 162.07M | 19.89M | 15.11M |
| Cash & Short-Term Investments | 116.34M | 196.45M | 266.68M | 230.88M | 118.85M | 132.54M |
| Accounts Receivable | 3.15M | 1.91M | 2.18M | 83.49M | 257.00K | 732.00K |
| Other Receivables | 1.00M | 2.31M | 964.00K | 382.00K | 16.00K | |
| Receivables | 3.15M | 2.92M | 4.49M | 84.45M | 639.00K | 748.00K |
| Prepaid Expenses | 5.74M | 325.00K | 428.00K | 607.00K | 696.00K | 1.36M |
| Other Current Assets | 3.00M | 5.21M | 3.75M | 4.32M | 2.05M | |
| Total Current Assets | 125.23M | 202.69M | 276.81M | 319.68M | 124.50M | 136.70M |
| Property, Plant & Equipment | 37.10M | 41.61M | 47.66M | 30.00M | 33.34M | 55.38M |
| Long-Term Investments | 32.48M | 5.24M | 65.70M | |||
| Other Long-Term Assets | 2.95M | 2.74M | 2.87M | 1.59M | 1.51M | 1.78M |
| Total Assets | 197.75M | 252.28M | 393.05M | 351.28M | 159.36M | 193.85M |
| Accounts Payable | 1.61M | 5.01M | 4.00M | 1.60M | 2.57M | 574.00K |
| Accrued Expenses | 7.95M | 12.10M | 14.17M | 16.82M | 7.82M | 10.95M |
| Current Portion of Leases | 6.88M | 7.84M | 7.23M | 3.20M | 2.83M | 5.57M |
| Current Unearned Revenue | 244.00K | 1.59M | 24.39M | 42.88M | 59.38M | 33.89M |
| Total Current Liabilities | 16.68M | 26.54M | 49.79M | 64.51M | 72.59M | 50.98M |
| Long-Term Leases | 25.69M | 28.66M | 36.50M | 17.09M | 20.29M | 38.61M |
| Long-Term Unearned Revenue | 6.00M | 32.36M | 6.45M | 8.21M | ||
| Other Long-Term Liabilities | 1.00M | 1.00M | 1.00M | 1.00M | 1.00M | 1.00M |
| Total Liabilities | 43.38M | 56.20M | 93.29M | 114.96M | 100.34M | 98.80M |
| Common Stock | 61.00K | 59.00K | 55.00K | 44.00K | 38.00K | 38.00K |
| Additional Paid-In Capital | 653.05M | 641.89M | 626.30M | 497.51M | 452.71M | 442.26M |
| Retained Earnings | -498.31M | -445.90M | -326.18M | -261.18M | -393.51M | -347.10M |
| Comprehensive Income & Other | -421.00K | 32.00K | -407.00K | -48.00K | -219.00K | -138.00K |
| Shareholders' Equity | 154.38M | 196.08M | 299.76M | 236.32M | 59.02M | 95.06M |
| Total Liabilities & Equity | 197.75M | 252.28M | 393.05M | 351.28M | 159.36M | 193.85M |
| Total Debt | 32.57M | 36.50M | 43.73M | 20.29M | 23.13M | 44.18M |
| Net Cash (Debt) | 116.25M | 165.19M | 288.66M | 210.58M | 95.72M | 88.36M |
| Net Cash Per Share | 1.96 | 2.81 | 5.01 | 4.72 | 2.50 | 2.35 |
| Filing Date Shares Outstanding | 61.62M | 59.60M | 55.21M | 54.30M | 43.29M | 38.11M |
| Total Common Shares Outstanding | 61.27M | 59.05M | 54.73M | 44.04M | 38.61M | 37.92M |
| Working Capital | 108.54M | 176.15M | 227.02M | 255.18M | 51.91M | 85.72M |
| Book Value Per Share | 2.52 | 3.32 | 5.48 | 5.37 | 1.53 | 2.51 |
| Tangible Book Value | 154.38M | 196.08M | 299.76M | 236.32M | 59.02M | 95.06M |
| Tangible Book Value Per Share | 2.52 | 3.32 | 5.48 | 5.37 | 1.53 | 2.51 |
| Machinery | 23.35M | 22.67M | 23.16M | 22.01M | 21.91M | |
| Leasehold Improvements | 6.85M | 6.49M | 7.11M | 12.55M | 15.70M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -107.73M | -119.72M | -65.00M | 132.33M | -46.41M | -71.20M |
| Depreciation & Amortization | 3.82M | 4.06M | 4.73M | 4.44M | 6.19M | 5.17M |
| Loss (Gain) From Sale of Assets | 167.00K | 141.00K | 510.00K | 178.00K | 377.00K | |
| Asset Writedown & Restructuring Costs | 2.78M | |||||
| Loss (Gain) From Sale of Investments | -1.80M | -2.97M | -7.97M | -3.63M | -16.00K | 349.00K |
| Stock-Based Compensation | 11.90M | 14.79M | 14.79M | 11.15M | 9.34M | 11.32M |
| Other Operating Activities | 5.07M | 4.87M | 4.60M | 1.98M | -2.47M | -2.46M |
| Change in Accounts Receivable | -629.00K | 268.00K | 81.31M | -83.23M | 475.00K | 7.28M |
| Change in Accounts Payable | -190.00K | 1.02M | 2.39M | -962.00K | 1.99M | -60.00K |
| Change in Unearned Revenue | -22.88M | -28.81M | -44.84M | 9.41M | 23.73M | -1.72M |
| Change in Other Net Operating Assets | -8.31M | -6.11M | -8.60M | 6.25M | -5.73M | -2.21M |
| Operating Cash Flow | -120.57M | -132.47M | -15.31M | 77.92M | -12.51M | -53.52M |
| Capital Expenditures | -847.00K | -2.60M | -3.52M | -3.26M | -2.49M | -1.61M |
| Investment in Securities | 106.65M | 128.04M | -91.34M | -138.39M | -4.85M | 67.52M |
| Investing Cash Flow | 105.80M | 125.45M | -94.86M | -141.64M | -7.34M | 65.91M |
| Issuance of Common Stock | 6.46M | 816.00K | 114.02M | 33.65M | 1.11M | 612.00K |
| Financing Cash Flow | 6.46M | 816.00K | 114.02M | 33.65M | 1.11M | 612.00K |
| Net Cash Flow | -8.31M | -6.21M | 3.85M | -30.08M | -18.74M | 12.99M |
| Free Cash Flow | -121.42M | -135.06M | -18.83M | 74.66M | -15.00M | -55.13M |
| Free Cash Flow Margin | -352.36% | -334.53% | -23.54% | 29.86% | -36.67% | -147.36% |
| Free Cash Flow Per Share | -2.04 | -2.30 | -0.33 | 1.68 | -0.39 | -1.46 |
| Levered Free Cash Flow | -77.31M | -83.94M | 25.61M | -3.01M | 7.25M | 3.94M |
| Unlevered Free Cash Flow | -77.31M | -83.94M | 25.61M | -3.01M | 7.25M | 4.18M |
| Change in Working Capital | -32.01M | -33.63M | 30.26M | -68.53M | 20.47M | 3.29M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 107.22M | 218.51M | 309.73M | 371.32M | 235.50M | 102.86M |
| Enterprise Value | -9.03M | 27.87M | 9.71M | 139.41M | 127.64M | 26.62M |
| Last Close Price | 1.72 | 3.93 | 5.67 | 8.44 | 6.10 | 2.71 |
| PE Ratio | 2.81 | |||||
| PS Ratio | 3.13 | 5.41 | 3.87 | 1.49 | 5.76 | 2.75 |
| PB Ratio | 0.68 | 1.11 | 1.03 | 1.57 | 3.99 | 1.08 |
| P/TBV Ratio | 0.70 | 1.11 | 1.03 | 1.57 | 3.99 | 1.08 |
| P/FCF Ratio | 4.97 | |||||
| P/OCF Ratio | 4.76 | |||||
| EV/Sales Ratio | 0.69 | 0.12 | 0.56 | 3.12 | 0.71 | |
| EV/EBITDA Ratio | 1.10 | |||||
| EV/EBIT Ratio | 1.14 | |||||
| EV/FCF Ratio | 1.87 | |||||
| Debt / Equity Ratio | 0.21 | 0.19 | 0.15 | 0.09 | 0.39 | 0.47 |
| Debt / EBITDA Ratio | 0.16 | |||||
| Debt / FCF Ratio | 0.27 | |||||
| Net Debt / Equity Ratio | -0.75 | -0.84 | -0.96 | -0.89 | -1.62 | -0.93 |
| Net Debt / EBITDA Ratio | 1.06 | 1.33 | 3.81 | -1.67 | 2.41 | 1.29 |
| Net Debt / FCF Ratio | 0.96 | 1.22 | 15.33 | -2.82 | 6.38 | 1.60 |
| Asset Turnover | 0.13 | 0.12 | 0.21 | 0.98 | 0.23 | 0.16 |
| Quick Ratio | 7.16 | 7.51 | 5.45 | 4.89 | 1.65 | 2.61 |
| Current Ratio | 7.50 | 7.64 | 5.56 | 4.96 | 1.72 | 2.68 |
| Return on Equity (ROE) | -54.09% | -48.29% | -24.25% | 89.61% | -60.24% | -57.10% |
| Return on Assets (ROA) | -27.34% | -24.86% | -13.52% | 29.87% | -16.22% | -20.21% |
| Return on Invested Capital (ROIC) | -165.53% | -227.29% | -157.03% | 469.05% | ||
| Return on Capital Employed (ROCE) | -62.80% | -56.90% | -23.50% | 42.50% | -52.80% | -51.50% |
| Earnings Yield | -104.15% | -54.79% | -20.99% | 35.64% | -19.71% | -69.21% |
| FCF Yield | -112.60% | -61.81% | -6.08% | 20.11% | -6.37% | -53.60% |
| Buyback Yield / Dilution | -2.12% | -1.77% | -29.39% | -16.20% | -1.83% | -0.86% |